Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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In prosecution for cheque dishonour, the dominant issue was whether the cheques were issued towards a legally enforceable debt on the date of issuance/presentation. The court held that the accused probabilised a defence that the cheques were blank security instruments taken from guarantors in a third-party loan transaction, supported by defence testimony, prior police complaint alleging threats/misuse, absence of any reflected loan transaction in tax records, and improbability of voluntary re-presentation amid strained relations, while the complainant, an unregistered financier, failed to adduce independent rebuttal evidence or even specify the date of issuance. Consequently, conviction was set aside, accused were acquitted, and deposits were directed to be refunded. - HC
In prosecution for cheque dishonour, the dominant issue was whether the cheques were issued towards a legally enforceable debt on the date of issuance/presentation. The court held that the accused probabilised a defence that the cheques were blank security instruments taken from guarantors in a third-party loan transaction, supported by defence testimony, prior police complaint alleging threats/misuse, absence of any reflected loan transaction in tax records, and improbability of voluntary re-presentation amid strained relations, while the complainant, an unregistered financier, failed to adduce independent rebuttal evidence or even specify the date of issuance. Consequently, conviction was set aside, accused were acquitted, and deposits were directed to be refunded. - HC
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